04 December, 2020

The Leaning Mobile Towers

The election buzz about him doesn’t lighten Mittal’s burdens

Reuters (From Outlook 24 February 2014)
The Leaning Mobile Towers

Why Sunil Bharti Mittal Is A Harried Man Today

From business worries to managing the political environment, the telecom-to-retail magnate has plenty on his plate. Eight points:

  1. Monstrous Debt Flagship Airtel in a tight financial spot, thanks to purchase of Zain in Africa; has debt of a whopping Rs 57,643 crore.
  2. Slipping Patronage Political backing for Mittal has diminished. There have been several run-INS with government and telecom authorities.
  3. Endless Cash Needs Mittal has huge financial needs over the next few years. Just this round of spectrum will put him back by up to Rs 18,500 cr
  4. Bruising Battles Mukesh Ambani is within striking distance of Mittal’s telecom business with 4G play Reliance Jio, slated to start this year.
  5. Desperate Moves Tie-up with Reliance Jio seen as a desperate move to generate revenue; overseas tower business is apparently on the block.
  6. Poor...


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